SC directs implementation of settlement in Ardee Group family dispute

The Supreme Court directed implementation of a mediated settlement in the Ardee Group family dispute between Shefali Varma and Shibani Varma Kapur, daughters of late developer Ashok Varma, ending years of litigation over family-held assets.

Bringing years of litigation involving the family of late real estate developer Ashok Varma closer to a conclusion, the Supreme Court has directed implementation of a mediated settlement reached between the parties in disputes concerning the Ardee Group and related family assets.

A Bench comprising Justice JK Maheshwari and Justice Atul S Chandurkar took note of the progress made through the mediation process and directed the parties to proceed with implementation of the settlement arrived at during court-monitored mediation proceedings.

Mediation Leads to Breakthrough

The dispute, which has remained the subject of extensive litigation over the years, primarily involved Shefali Varma and Shibani Varma Kapur, daughters of late Ashok Varma, and related to family-held business interests, real estate assets and properties associated with the Ardee Group.

The breakthrough came through a mediation process supervised by former Supreme Court Judge Justice Kurian Joseph, who had been appointed by the apex court to facilitate an amicable resolution between the parties.

According to proceedings before the Supreme Court earlier this year, Justice Kurian Joseph submitted an interim report informing the Court that the parties had succeeded in resolving their major disputes through mediation. The report recorded that a final and binding Memorandum of Settlement dated February 5, 2026, had been executed during the mediation proceedings.

The mediator further informed the Court that additional time would be required to work out a comprehensive settlement framework and complete the implementation process. Taking note of the report, the Supreme Court granted time for implementation of the settlement and directed the parties to carry forward the agreed terms.

Court Oversees Implementation

The development is being viewed as a major breakthrough in one of the most closely watched family business disputes linked to the Ardee Group. The litigation had generated proceedings across multiple forums and involved issues relating to ownership, management and succession of valuable family-held assets accumulated over decades.

The interim report placed before the Court records that the parties were able to resolve their principal disputes through mediation, while efforts continued to ensure a comprehensive and enduring resolution of all outstanding issues. The report also expressed the expectation that the remaining aspects of the settlement would be finalized with the cooperation of all stakeholders.

While the Supreme Court granted time for implementation of the settlement, the matter continued to remain under judicial consideration on subsequent dates, indicating that the implementation process remains underway under the Court's oversight.

Significance of the Dispute

The dispute attracted considerable public and legal attention because of its connection with Ardee City, one of Gurugram's earliest integrated residential townships, as well as several prominent real estate and commercial assets associated with the Ardee Group. The progress achieved through mediation is therefore being viewed as a significant step towards bringing years of contentious litigation to a close.

Settlement Details and Path to Closure

Sources familiar with the matter stated that the settlement has resulted in a division of family-held assets and business interests between Shefali Varma and Shibani Varma Kapur. According to sources, Ardee Mall located in Sector 52, Gurugram, has fallen to the share of Shefali Varma, while the remaining properties and land parcels are understood to have been divided equally between the two sisters.

The parties have not publicly commented on these aspects of the settlement, and the detailed terms of the Memorandum of Settlement have not been disclosed in the public domain.

With the principal issues having been resolved through mediation and the Supreme Court directing implementation of the settlement, the parties appear significantly closer to achieving a final and comprehensive resolution after years of legal battles.

The settlement is expected to provide certainty regarding the future ownership and management of assets associated with the Ardee Group and has finally brought closure to a dispute that has remained unresolved for more than two decades. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)